$11 billion Saudi Investment in Gwadar

Saudi Arabia is investing $11 billion in a state-of-the-art
oil refinery and petrochemical complex in Gwadar. This investment will open new
doors for Pakistan in the energy sector, give a boost to Pakistan’s economy and
allow it to attain economic independence in the petroleum sector.

A Memoranda of Understanding (MoU) was signed between the Petroleum Minister Ghulam Sarwar Khan and his Saudi counterpart.

They will set up a $10 billion oil refinery and a $1 billion petrochemical complex in Gwadar. Two Re-gasified Liquefied Petroleum Gas (RLNG) plants will be installed that will have an estimated cost of $4 billion. In mineral development sector $2 billion investment will be done.